First Eagle Buys AB InBev, Qualcomm; Sells Phillips 66, Duke Energy

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First Eagle Investment Management recently filed its 13F with the Securities and Exchange Commission (SEC) showing that its total assets under management increased from approximately $28.06 billion to almost $30 billion for the first quarter of 2013.

first eagle investment management

During the quarter, the mutual fund acquired 52 new stocks, boosted its stockholdings in across 86 stocks, reduced its stake in 72 stocks, and sold its entire position in 24 stocks.

First Eagle Investment’s largest stock holdings in its portfolio as of March 31, 2013 include Comcast Corporation (NASDAQ:CMCSA) which accounts 3.15 percent, Cisco Systems, Inc. (NASDAQ:CSCO) 2.94 percent, SYSCO Corporation (NYSE:SYY) 2.85 percent, Microsoft Corporation (NASDAQ:MSFT) 2.64 percent, and Grupo Televisa SAB (NYSE:TV) 2.4 percent.

During the quarter, its major new acquisitions include Anheuser-Busch InBev NV (NYSE:BUD) (EBR:ABI) 0.35 percent or 1,068, 581 shares, QUALCOMM, Inc. (NASDAQ:QCOM) 0.31 percent, 31, 381, 602 shares and National-Oilwell Varco, Inc. (NYSE:NOV) 0.3 percent or 1, 282,119 shares. The company also purchased 0.27 percent or 1, 062, 655 shares of Norfolk Southern Corp. (NYSE:NSC), and 0.22 percent or 947, 247 shares of Target Corporation (NYSE:TGT)

The mutual fund also added his stock holdings in Intel Corporation (NASDAQ:INTC) by more than 8 million shares bringing its stake to a total of 33,398,075 shares with approximately $729.4 million market value. First Eagle Investment also boosted its position in Goldcorp Inc. (NYSE:GG) by more than 7.2 million shares to more than 18.4 million shares and Devon Energy Corp (NYSE:DVN) by over 2.6 million share to approximately 7.9 million shares.

First Eagle Investment reduced its stake in the followings stocks: Texas Instruments Incorporated (NASDAQ:TXN) by more than 6.3 million shares, MetroPCS Communications Inc (NYSE:PCS) by 420,927 shares, Weyerhaeuser Company (NYSE:WY) by more than 4 million shares, Time Warner Inc (NYSE:TWX) by more than 1.8 million shares.

The mutual fund also cut its stock holdings in Pentair, Ltd. Registered Share (NYSE:PNR) by more than 1.6 million shares, and Packaging Corp. of America (NYSE:PKG) by more than 2.7 million shares.

The mutual fund sold out its stock holdings in Phillips 66 (NYSE:PSX), Duke Energy Corp (NYSE:DUK), KLA-Tencor Corporation (NASDAQ:KLAC), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) and Rockwell Collins, Inc. (NYSE:COL).

Jean-Marie Eveillard, known as the mutual fund maestro, serves as senior vice president and senior advisor of First Eagle Investment Management.


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